We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand. If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now. Here is why…

DEMAND

According to research at the National Association of Realtors (NAR), buyer activity last month (January) was three times greater than it was last January. Purchasers who are ready, willing and able to buy are in the market at great numbers.

SUPPLY

The most recent Existing Home Sales Report from NAR revealed that the months’ supply of housing inventory had fallen to 4.4 months which is the lowest it has been in over a year.

Bottom Line

Listing your house for sale when demand is high and supply is low will guarantee the offers made will truly reflect the true value of your property.

Design has gone to the dogs. It's true. Some of today's pet accommodations rival the finest custom homes in terms of space, design, style, and materials.

"Many of them have carpeting, heating and air-conditioning, indoor and outdoor lighting, elaborate music and entertainment systems," said the New York Times. "Some are even eco-friendly, with solar panels or planted green roofs. In fact, the only superfluous accessory in the modern doghouse may be the dog."

Rockstar Puppy's custom doghouse start at $6,000 and range up to $20,000. Custom doghouse company La Petite Maisoncreates versions that are upwards of $25,000. "For the supermodel Rachel Hunter's showpiece doghouse in the Los Angeles area…hand-painted wallcovering dotted with pawprints and bones, as well as framed pictures of dogs" were included at a cost of more than $16,000," said the New York Times.

But nothing beats this Mediterranean doghouse. This mini-version of its owner's home is a two-story house with "a Juliet balcony, clay tile roof, copper gutters, and custom light fixtures," said The Barkpost. The owner: Paris Hilton. The cost: $325,000.

Mediterranean not your style? This "Swiss Chalet-style doghouse has a storybook quality," said Bob Vila. A Juliet balcony with decorative railings and matching plant boxes on the lower level allows this house to tie into the surrounding landscaping."

Have a dog who loves water? Why not give him his own pool? This "beautiful ranch style dog home made of real, high-quality lumber and stone siding" includes "a private doggie pool for summertime lounging," said the Barkpost.

Ready to pamper your pooch? The only limitations are your imagination – and your bank account.

Check out the Barkpost for more outrageous dog houses including a Frank Lloyd-inspired structure with plans created by the master himself—a doghouse they cleverly refer to as the "finest example of Prairie School of Barkitecture in existence."

And check out House Beautiful for luxury furniture for other pet members of the household, including this designer fish tank and this $700 Deluxe Lighthouse Cat Tower, "a six-foot-tall and four-foot-wide kitty tower" that offers deluxe accommodations "for the cat who adores colonial style and the sea."

"It was awfully scary," says Cliff Whitehead of the sudden flue fire that roared up the chimney of his Des Moines house one autumn evening. "We had a regular fire going, then there was this tremendous noise. It took a moment to figure out what was going on."

"People don't always know they're having a chimney fire," notes certified chimney sweep Dan Hughes of Chimeney Cricket in Des Moines. A chimney fire doesn't always burst into flames with a thunderous bellow. "It can smolder and sizzle for an hour or more. You could be sitting around watching the football game and not even know you've got a fire," Hughes says.

Beware of creosote buildup

The culprit is creosote – a black or brown residue of combustion that collects on the inner surfaces of a flue liner. Creosote is highly flammable. If allowed to build up, it can catch fire, reaching temperatures of 2,500 degrees Fahrenheit. These high temperatures can crack "fireproof" brick, stone or clay flue liners, allowing heat to reach nearby wood framing members and other combustible materials.

Make sure your flue is free of creosote by inspecting your chimney once a year, preferably in late spring or early summer when heating season is over, Hughes says. That way, you'll have enough time to complete any repairs before the heating season begins in the fall.

Do-it-yourself inspections and repairs

Wear old clothes and equip yourself with a dust mask or respirator and a pair of safety goggles.

Check the firebox for damaged brick and mortar that is crumbling or missing. These defects usually can be repaired with refractory cement – a tough, heat-proof sealant available through fireplace dealers.

Open the damper completely. It should move freely and fit snugly against the smoke shelf. Use a flashlight to check the damper for cracks, pitting or rusted-out sections. Broken or corroded dampers should be replaced by a professional. Look for any debris that may restrict air flow and remove it.

Check for broken or damaged bricks or flue liners. Vertical cracking in the liner is a sure sign of a previous flue fire and should be considered a serious problem. Consult a professional chimney sweep or a masonry contractor who is familiar with fireplace repairs.

Finally, inspect for creosote deposits. If it has built up to a thickness greater than 1/8 inch, remove it. If you can't see the entire flue from below, you'll have to get up on the roof and inspect the flue from above. Don't get up on the roof unless you are completely confident of your abilities. By attaching ridge hooks to the end of a section of ladder, you can make a safety ladder that lays flat and secure against the roof surface.

Shopping for a chimney sweep

To find a chimney sweep, start by looking in the Yellow Pages of your telephone directory under "Chimney Cleaning." Or contact the Chimney Safety Institute of America (CSIA) at (800) 536-0118 or visit the web site at www.csia.org. You can also visit the site for the National Chimney Sweep Guild (NCSG) at www.ncsg.org.

Determine professional qualifications, especially of those found in the Yellow Pages or through referrals. Chimney sweeps are not regulated or licensed by government agencies, but many sweeps apply for certification by CSIA or membership in the NCSG. These organizations promote professionalism in the industry by testing applicants and offering continuing education opportunities to keep members up to date on changing technology and fire safety.

Ask what services are provided for fees. For $90 to $150, a professional chimney sweep will thoroughly clean your fireplace and chimney and check for defects. Many sweeps lower video cameras and lights into chimneys to provide a close look at walls and liner surfaces, and to take a visual record of the chimney's condition for the homeowner.

Other key questions: Are they qualified to complete necessary repairs, and if so, what are the additional fees? If they aren't qualified, will they recommend a professional masonry contractor to do the job?

John Riha a former building contractor, has been editor for Country Home, Traditional Home and Renovation Style magazines. He is the author of seven books about home improvement and design.

We looked at housing list price data from real estate brokerage Movoto.com and real estate marketplace Zillow.com. The diagram below shows the number of square feet of housing that you can buy for $1,000,000, based on the median price per square foot in each city:

With a median list price of $666 per square foot, San Francisco's real estate boom limits a million dollars to buying about 1,500 square feet. On the other end of the spectrum, the median list price in beleaguered Detroit is just $12 per square foot — 55 times cheaper than in San Francisco.

Considering all five boroughs, the median price per square foot in New York City is $424. Looking just at Manhattan however, that price jumps to an astronomical $1,538 per square foot, leading to $1,000,000 buying just 650 square feet.

The sales of vacation homes skyrocketed last year. A recent study also revealed that 25% of those surveyed said they’d likely buy a second home, such as a vacation or beach house, to use during retirement. For many Baby Boomers, the idea of finally purchasing that vacation home (that they may eventually use in retirement) makes more and more sense as the economy improves and the housing market recovers.

If your family is thinking about purchasing that second home, now may be the perfect time. Prices are still great. If you decide to lease the property until you’re ready to occupy it full time, the rental market in most areas is very strong. And you can still get a great mortgage interest rate.

But current mortgage rates won’t last forever…

According to FreddieMac, the interest rate for a 30 year fixed rate mortgage at the beginning of April was 4.4%. However, FreddieMac predicts that mortgage rates will steadily climb over the next six quarters.

Let’s assume you want to purchase a home for $500,000 with a 20% down payment ($100,000). That would leave you with a $400,000 mortgage. What happens if you wait to buy this dream house?

You want to start climbing the property ladder. You want to buy your own home. But there’s just one problem: You don’t have the cash for a 20 percent downpayment.

What should you do?

First, let’s assess your current situation: Are you a first-time homebuyer? Or do you currently own a home? If you’re already a homeowner, you might be in a better position than you realize.

You might not have $40,000 laying around in a bank account to make a 20 percent downpayment on a $200,000 home. But you do have equity in your existing home.

When you sell that home, you can use the equity to pay for your next home. The key is to write an offer that’s contingent on the sale of your current home. This is a common contingency, so your real estate agent will easily be able to include it in your contract. And because this type of contingency is so popular, the seller shouldn’t balk (unless you’re in a hyper-competitive market.)

But what if you’re underwater on your mortgage — or a first-time homebuyer? Read on.

#1: Apply for an FHA Loan

The Federal Housing Administration, or FHA, insures loans for qualified first-time homebuyers. These are known as “FHA Loans.”

The FHA itself doesn’t issue the loan. Rather, a financial institution such as a bank or credit union issues the loan, which is then insured by the FHA. This protects the lender from loss. Because the lender carries less risk, they can offer the loan at rock-bottom interest rates.

The result: you get a mortgage loan at a low interest rate with as little as 3.5 percent down.

However, there are two drawbacks or limitations to taking out an FHA loan.

First, you’re only qualified to spend 31 percent of your gross monthly income on all housing-related expenses, including your mortgage, property taxes, insurance, plus any homeowner’s association (HOA) fees. In other words: If you gross $5,000 per month, you can spend no more than $1,550 per month on housing.

Of course, that’s not entirely a “drawback.” Yes, it’s a limitation. But it’s a limit that will prevent you from tackling a mortgage that you can’t afford.

Second, you’ll be required to pay private mortgage insurance, or PMI, until you reach 20 percent equity. The rates vary, but as a rough ballpark, expect to pay an additional $40 – $50 per month on every $100,000 of mortgage that you carry. (This will be lumped into your 31 percent limitation.)

#2: Look to City Programs

Many cities offer downpayment assistance to its residents. For example, a program called Invest Atlanta offers $10,000 – $20,000 in mortgage assistance (in the form of an interest-free second mortgage) to people who buy a home with City of Atlanta limits. Likewise, the City of San Francisco will lend first-time homebuyers up to $200,000 to put towards their downpayment.

Some of these city programs mandate that you must be a first-time homebuyer; others don’t. Some programs are capped at certain income limits; others aren’t. Research the city, county and state programs in your local area to find out the details of what’s in your neighborhood.

#3: Get a VA Loan

Qualified military veterans can obtain a mortgage with zero downpayment, thanks to a program administered by the Department of Veteran’s Affairs.

Like an FHA Loan, a “VA Loan” is a federally-insured loan that’s issued by a traditional financial institution, like a bank. VA Loans are given to veterans who maintain good credit, meet income requirements, and have a “Certificate of Eligibility” through the VA.

These loans don’t require any downpayment, and as an extra bonus, the buyers don’t need to pay PMI, either — making them an even better deal than FHA loans. Furthermore, the VA restricts the amount that the lender can charge for closing costs, which means you’ll have built-in protection from getting ripped-off by ancillary fees.

#4: Apply for a USDA Loan

Not an urban-dweller? You may be able to take out a loan that’s insured by the U.S. Department of Agriculture. These “USDA Loans” are designed to encourage homeownership in rural areas.

To qualify for a USDA loan, your income can’t be more than 115 percent of the median income within the area in which you reside.

Like the VA loan, USDA loans allow you to purchase a home with zero downpayment. However, unlike the VA loan, you will need to pay monthly PMI.

There are two drawbacks. First, the USDA only approves certain houses, which means your pool of potential new dwellings will be limited. If you have your heart set on a specific house, and it’s not USDA-qualified, you won’t be able to use this loan to buy that particular abode.

Secondly, you’ll be limited to spending no more than 29 percent of your gross income on all housing-related costs (including PMI), and no more than 41 percent of your gross income on all of your combined debt payments, including your mortgage, car payments, student loans, and more.

The Bottom Line

Don’t have a 20 percent downpayment? Don’t sweat. Regardless of whether you’re a city-slicker or a country-dweller, a first-time homebuyer or a military veteran, there are plenty of options you can explore.

Now that the housing market is finally on the upswing, many people are looking into buying a new home. One of the first things they have to consider before they begin the home buying process is if they are going to use a real estate agent or not. Everyone is going to be different but we put together this inofgraphic to give the American public some ideas about the importance of Real Estate Agents. Feel free to let us know what you think in the comments and don’t forget to share this with your friends.